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Tax law to spark $450 billion buyout bonanza for Wall Street [CNNMoney.com]

JETBLUE AIRWAYS (JBLU)  More Company Research Source: CNNMoney.com
Last jetblue airways earnings: 4/24 07:30 am Check Earnings Report
US:NASDAQ Investor Relations: investor.jetblue.com/investor-relations
PDF Tax law to spark $450 billion buyout bonanza for Wall Street1: Tax party: Get ready for the new tax law to create a $450 billion boom -- of stock buybacks.Corporate America is sitting on a mountain of money overseas, built during years of hoarding foreign profits to avoid paying U.S. taxes on them.The new law gives companies a tax break -- paying between 8% and 15.5% instead of the usual 35% -- to bring that money back to America.Wall Street can't wait for the roughly $1.2 trillion in foreign profits that S&P 500 companies are sitting on to get returned.Some of that money will go toward creating jobs and rewarding workers with a raise or a bonus. But analysts believe the bulk of it will beused to reward shareholders.In fact, Bank of America forecasts that companies will devote $450 billion -- or roughly half the remainder after paying taxes -- to stock buybacks. That's a huge windfall that doesn't even include buybacks inspired by the lowering of the corporate tax rate to 21%. It near [Read more]

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